Russia-Ukraine Crisis: Indian Markets are anticipating for heavy falls

Russia-Ukraine Crisis: Indian Markets are Anticipating Heavy Fall

Investors were bracing for a torrid day for Russian, Ukrainian and wider global markets when they reopen on Tuesday.

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The Russian president, in a televised address today, recognised two breakaway regions Donetsk and Luhansk in eastern Ukraine as independent entities.

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Tensions have already rattled global markets this year and wiped tens of billions of dollars off the value of Russian and Ukraine assets.

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Russian markets were still open when Putin announced his decision live on television following phone calls to the leaders of Germany and France.

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Analysts at Commonwealth Bank of Australia warned traders ahead of the start of Tuesday's Asian open that Putin's decision would clearly exacerbate already high tensions.

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The sensex tanked over 1,000 points and the Nifty cracked below the key 17,000 level in opening deals on Tuesday, mirroring a selling saga in the global equity markets.

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